Corporate Social Responsibility Startegy for Autoparts Industrial Sectors
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Abstract
The objectives of this study were to 1) study the current status of the auto parts industry, 2) study the compliance with corporate social responsibility (CSR) standards, 3) study the CSR activities and
4) develop CSR strategies. This research was a combination of quantitative and qualitative research. Population were the executives who were responsible for corporate social responsibility of 16 listed companies in auto parts industry in the stock exchange of Thailand. The tools were In-depth interviews and questionnaires. Qualitative data analysis was done by content analysis while quantitative data analysis was analyzed by descriptive statistics i.e. mean and standard deviation. The research result was as follows: (1) the present situation of the auto parts industrial sector is very good. 1.1) as pertaining to general condition was very good the structure, product partner, and shareholders and complied in relation to regulations of the Stock Exchange of Thailand and the product standard and partners agreement. 1.2) The financial performance was at a high level e.g. the return on assets (ROE) averaged 10.56%, the return on equity (ROA) averaged 12.19% and the net profit margin (NP) averaged 7.76%. 1.3) CSR Policy covered and the impacts were conditioned both internal and external stakeholders. (2) As per Compliance practices toward CSR standards was at a high level in terms of respect for rights and fair labor practices ( = 3.36, S.D. = 1.525) and environmental protection (
= 3.53, S.D. = 0.85), while the remainder was moderate. (3) CSR Activities indicated a high level, including employees and workers relation, and community and society relation. (4) The CSR Strategies: 4.1) the internal CSR strategies are 3 prime strategies including Legitimate Strategy (Corporate Governance Strategy and Innovative Product Development Strategy), Business Ethics Strategy and Corporate Citizenship strategies (Economic responsibility, Legal responsibility and Ethical responsibility and Social responsibility). 4.2) The external CSR strategies are two prime strategies including Public Responsibility Strategy (Volunteerism and Dialogue Strategy and Strategies for Providing Communities Opportunities Strategy) and Stakeholder strategies (shareholders and employees, customers and consumers, partners and competitors, the community and society, and environment).
It can be concluded that the current situation of the auto parts industry is very good. The financial performance is high level. The CSR policies have a comprehensive policy. There are two compliance practices toward CSR standards were at high level In terms of respect for rights and fair labor practices and environmental protection. The CSR activities are carried out a high level on employee and labor activities, and community and social activities. Corporate Social Responsibility Strategy: There are 3 internal CSR Strategies (Legitimate strategy, Business Ethics and Corporate Citizenship Strategy) and 2 external CSR Strategy public responsibilities Strategy and Stakeholder Strategy.
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